At 17%, exports see fastest growth in 28 months, record imports in Oct

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Times of India 8h ago

At 17%, exports see fastest growth in 28 months, record imports in Oct - Times of India

Quick Summary:

India's goods exports surged by 17% to $39.2 billion in October, marking the fastest growth in 28 months, driven by Christmas demand and focused sector initiatives.However, a record $66.3 billion import bill, up 3.8%, resulted in a $27.1 billion trade deficit.

Despite recent global challenges, the government aims for record exports exceeding $800 billion in 2024-25.

The commerce department is focusing on six sectors — engineering, electronics, pharma, chemicals, plastics and agriculture — and 20 countries, which account for 60% of global imports.